LAKE SUCCESS, N.Y., June 28, 2012 /PRNewswire/ -- As part of its ongoing commitment to help broker-dealers and third party administrators (TPAs) comply with new regulatory requirements, Broadridge Financial Solutions (NYSE: BR) is now offering a turnkey solution to help its clients meet the U.S. Department of Labor (DOL) 401(k) Fee Disclosure Reporting Requirements and provide a comprehensive benchmarking solution. This easy to implement and cost-effective solution comes to market through a strategic alliance between Broadridge and Castle Rock Innovations, LLC. (Logo: http://photos.prnewswire.com/prnh/20110920/MM71626LOGO ) With the finalization of the DOL's Fee Disclosure requirements, financial firms are under immense pressure to comply with the mandated 408(b)(2) and 404(a)(5) regulations when they go into effect beginning as soon as July. Adding to Broadridge's existing fee disclosure solutions, this alliance with Castle Rock Innovations will enable retirement plan providers access to a single, secure platform for collecting, managing and reporting plan level data needed to comply with 408(b)(2) fee disclosure requirements and plan benchmarking needs. "There's no way around it – fee disclosure compliance is mandatory and the deadlines are imminent," said Timothy Slavin, Senior Vice President, Defined Contribution, Broadridge. "We're already helping dozens of industry leaders comply with the 404(a)5 regulation and now through this alliance with Castle Rock Innovations, we're able to provide a comprehensive offering that will also help them cover 408(b)(2). This turnkey solution – together with our compliance management solution – enables them to track 408(b)(2) alongside other regulatory requirements such as 22(c)(2)." "In addition to its cutting-edge technology solutions and best-in-class security, Broadridge brings industry experience, strong breadth of product and client relationships, and a deep understanding of the regulatory requirements to this alliance," said Khash Sarrafi, Managing Partner of Castle Rock Innovations. "With our innovative and efficient single source solution, users can generate reports for filings, report plan expenses and compare retirement plan features and their employee population to those of their peers – a feature that's not currently available in the marketplace." The offering is designed to service all retirement plan types through a single web-based platform and data repository. The solution is customizable to meet specific client needs and can interface with any system of record supporting retirement plan data feeds. The flexible data interface provides robust reporting capabilities on all the underlying data that broker-dealers and TPAs use and offers additional benchmarking capabilities not currently available on the market. The fact that this solution can be implemented seamlessly helps alleviate the technology burden, cost and integration issues associated with complying with these new regulations.